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EXPLANATORY NOTES ON VARIOUS SECTIONS FROM 15-50 1 ([c. 1935])

handle is hein.ali/relwsl0009 and id is 1 raw text is: Explanatory Notes. Section 15. Comment i. There is some difference of decision in regard to the validity of an oral agreement restricting the use of granted land. In Illustration 5 to Section 195 of the Restatement of Contracts, an oral agreement to insert .restrictions in any deed to subsequent grantees of adjoining property was stated to be within the Statute of Frauds. The question,therefore, of the enforceability of such a restriction has already been passed upon by the Institute. It should be stated,however,that there is a dispute -in the cases.' Oral agreements made contem- poraneously with a conveyance may purport to restrict the use which either the granted land or the reraining land of the gwlrtor ,epall be put. In terms such an agreement is not for the sale of an interest in land, yet nevertheless it may be of such a char- aoter that if it were in writing it would impose liability on subsequent owners of the land, unless they were purchasers for value without notice of the oral agreement. Therefore, if given full effect,it imposes an equitable servitude on the land affect. ed. For this reason many courts hold that the oral agreement